Newport Beach Prices Dropping

[Gohabsgo_IHB]

why? you think that is some kind of floor?

depending on the neighborhood, prices were much, much lower than that in the 90s, and will be again.

Newport Beach under $250? Price might have been lower in 80's also...but it doesn't mean much.

Does the statement assume you will find one deal at $250 or is it that most homes will be available around that price.

 

[freedomCM_IHB]

i say the nineties because that was the last time that folks i NPB seemed to share the same reality that I live in.

here is a prime, bay view home, 3ksf. just because they think that it tripled in the past six years doesn't make it so.

NPB prices are just insane. they've barely dropped. they are going to drop.

Property History for 1000 W Wind Way

Date Event Price Appreciation Source

Feb 12, 2009 Price Changed $1,900,000 -- SoCalMLS #U8000168

Mar 18, 2008 Price Changed $2,195,000 -- SoCalMLS #U8000168

Feb 27, 2008 Price Changed $2,795,000 -- SoCalMLS #U8000168

Feb 01, 2008 Price Changed $2,995,000 -- SoCalMLS #U8000168

Jan 11, 2008 Listed $3,095,000 -- SoCalMLS #U8000168

Dec 22, 2007 Listed * -- Inactive SoCalMLS #1

Mar 17, 2004 Sold $1,919,000 31.4%/yr Public Records

Mar 04, 2002 Sold $1,100,000 4.8%/yr Public Records

Jul 23, 1996 Sold $844,000 -2.0%/yr Public Records

Sep 30, 1994 Sold $875,000 2.7%/yr Public Records

Dec 22, 1988 Sold $750,000

 

[skek_IHB]

.

 

[no_vaseline_IHB]

IIRC, W Wind Way is a big time short sale, too. It's also the house that Bren's mother used to own, and where John Wayne would play poker!

Was he any good?

Nixon was.

 

[CapitalismWorks_IHB]

More than a few posts have expounded on the stickiness of prices in Newport Beach and Irvine. Many very good reasons have been given for the slower downward price movement in these areas and they all seem reasonable.

And some folks are daring enough to give reasons why prices will stay sticky in these areas or why prices will eventually fall at the same rate as other areas or even faster.

Here is my prediction for when prices will fall hard in Newport Beach, and by extension, Irvine.

Prices will collapse, yes collapse, in Newport Beach when PIMCO collapses. And it will.

Why do you think PIMCO will collapse?

When do you think it will collapse?

Within 2 years, maybe 1 and 1/2.

Care to put any money on this claim? I'd LOVE to take the other side, and in ANY amount you would like.

 

[awgee_IHB]

More than a few posts have expounded on the stickiness of prices in Newport Beach and Irvine. Many very good reasons have been given for the slower downward price movement in these areas and they all seem reasonable.

And some folks are daring enough to give reasons why prices will stay sticky in these areas or why prices will eventually fall at the same rate as other areas or even faster.

Here is my prediction for when prices will fall hard in Newport Beach, and by extension, Irvine.

Prices will collapse, yes collapse, in Newport Beach when PIMCO collapses. And it will.

Why do you think PIMCO will collapse?

When do you think it will collapse?

Within 2 years, maybe 1 and 1/2.

Care to put any money on this claim? I'd LOVE to take the other side, and in ANY amount you would like.

Huh? Why?

 

[CapitalismWorks_IHB]

More than a few posts have expounded on the stickiness of prices in Newport Beach and Irvine. Many very good reasons have been given for the slower downward price movement in these areas and they all seem reasonable.

And some folks are daring enough to give reasons why prices will stay sticky in these areas or why prices will eventually fall at the same rate as other areas or even faster.

Here is my prediction for when prices will fall hard in Newport Beach, and by extension, Irvine.

Prices will collapse, yes collapse, in Newport Beach when PIMCO collapses. And it will.

Why do you think PIMCO will collapse?

When do you think it will collapse?

Within 2 years, maybe 1 and 1/2.

Care to put any money on this claim? I'd LOVE to take the other side, and in ANY amount you would like.

Huh? Why?

I thought you might be interested in taking up a short position in a non-public entity...

 

[awgee_IHB]

More than a few posts have expounded on the stickiness of prices in Newport Beach and Irvine. Many very good reasons have been given for the slower downward price movement in these areas and they all seem reasonable.

And some folks are daring enough to give reasons why prices will stay sticky in these areas or why prices will eventually fall at the same rate as other areas or even faster.

Here is my prediction for when prices will fall hard in Newport Beach, and by extension, Irvine.

Prices will collapse, yes collapse, in Newport Beach when PIMCO collapses. And it will.

Why do you think PIMCO will collapse?

When do you think it will collapse?

Within 2 years, maybe 1 and 1/2.

Care to put any money on this claim? I'd LOVE to take the other side, and in ANY amount you would like.

Huh? Why?

I thought you might be interested in taking up a short position in a non-public entity...

No thank you. But it is a kind offer. I think Pimco will fail, but am not so sure of it's failure that I am willing to put money on the idea. For the most part, I only put money on what I perceive to be extremely probable.

Cap, when I take an investment position, do you think you even have the amount to cover the other side?

 

[CapitalismWorks_IHB]

More than a few posts have expounded on the stickiness of prices in Newport Beach and Irvine. Many very good reasons have been given for the slower downward price movement in these areas and they all seem reasonable.

And some folks are daring enough to give reasons why prices will stay sticky in these areas or why prices will eventually fall at the same rate as other areas or even faster.

Here is my prediction for when prices will fall hard in Newport Beach, and by extension, Irvine.

Prices will collapse, yes collapse, in Newport Beach when PIMCO collapses. And it will.

Why do you think PIMCO will collapse?

When do you think it will collapse?

Within 2 years, maybe 1 and 1/2.

Care to put any money on this claim? I'd LOVE to take the other side, and in ANY amount you would like.

Huh? Why?

I thought you might be interested in taking up a short position in a non-public entity...

No thank you. But it is a kind offer. I think Pimco will fail, but am not so sure of it's failure that I am willing to put money on the idea. For the most part, I only put money on what I perceive to be extremely probable.

Cap, when I take an investment position, do you think you even have the amount to cover the other side?

Don't get ahead of yourself little buddy. Last time I checked there weren't any EAs on the Forbes 400.

 

[awgee_IHB]

More than a few posts have expounded on the stickiness of prices in Newport Beach and Irvine. Many very good reasons have been given for the slower downward price movement in these areas and they all seem reasonable.

And some folks are daring enough to give reasons why prices will stay sticky in these areas or why prices will eventually fall at the same rate as other areas or even faster.

Here is my prediction for when prices will fall hard in Newport Beach, and by extension, Irvine.

Prices will collapse, yes collapse, in Newport Beach when PIMCO collapses. And it will.

Why do you think PIMCO will collapse?

When do you think it will collapse?

Within 2 years, maybe 1 and 1/2.

Care to put any money on this claim? I'd LOVE to take the other side, and in ANY amount you would like.

Huh? Why?

I thought you might be interested in taking up a short position in a non-public entity...

No thank you. But it is a kind offer. I think Pimco will fail, but am not so sure of it's failure that I am willing to put money on the idea. For the most part, I only put money on what I perceive to be extremely probable.

Cap, when I take an investment position, do you think you even have the amount to cover the other side?

Don't get ahead of yourself little buddy. Last time I checked there weren't any EAs on the Forbes 400.

So, do you?

 

[CapitalismWorks_IHB]

More than a few posts have expounded on the stickiness of prices in Newport Beach and Irvine. Many very good reasons have been given for the slower downward price movement in these areas and they all seem reasonable.

And some folks are daring enough to give reasons why prices will stay sticky in these areas or why prices will eventually fall at the same rate as other areas or even faster.

Here is my prediction for when prices will fall hard in Newport Beach, and by extension, Irvine.

Prices will collapse, yes collapse, in Newport Beach when PIMCO collapses. And it will.

Why do you think PIMCO will collapse?

When do you think it will collapse?

Within 2 years, maybe 1 and 1/2.

Care to put any money on this claim? I'd LOVE to take the other side, and in ANY amount you would like.

Huh? Why?

I thought you might be interested in taking up a short position in a non-public entity...

No thank you. But it is a kind offer. I think Pimco will fail, but am not so sure of it's failure that I am willing to put money on the idea. For the most part, I only put money on what I perceive to be extremely probable.

Cap, when I take an investment position, do you think you even have the amount to cover the other side?

Don't get ahead of yourself little buddy. Last time I checked there weren't any EAs on the Forbes 400.

So, do you?

Is this an indication of interest? If so I will meet you tomorrow, and we can put $100K to work. Is that enough, or do you high rollers only deal in 7 figures?

 

[CapitalismWorks_IHB]

If so, I am SURE I can locate counterparties to the trade in literally any amount you want. I am dead serious.

 

[awgee_IHB]

Is this an indication of interest? If so I will meet you tomorrow, and we can put $100K to work. Is that enough, or do you high rollers only deal in 7 figures?

If so, I am SURE I can locate counterparties to the trade in literally any amount you want. I am dead serious.

Oh my. We can meet tomorrow? $100k? Is that enough? Dead Serious? At sundown? In the town square? Dead Serious?

You sound dead serious. Why do I get the feeling that in another time, you would be asking for a duel?

Do you work at Pimco? Or does a close relative work at Pimco?

I am interested, but not in your wager. I am interested in the passion and intensity of your statements.

You would LOVE, (your CAPS), to make a bet? And in ANY, (again your CAPS), amount?

According to your post, it was written at 9:14pm on Friday night and you were able to get $100k by the next day, Saturday. I am interested in how you would do that? Seriously. I am not able to access $100k on a Saturday with notice from late Friday night. Truly, I think the most I could access in that particular time period would be the limit on my ATM card. But, like you said, how many EA's are on the Forbes 400 list? Not many we might agree. How does one, either on or not on the Forbes 400 list, access such sums on a Friday night? I probably do not run in the same circles as you, but upon reflection, I can not think of anybody in my sphere who could do that. From late Friday night to Saturday day would imply cash on hand, would it not?

And I am still intrigued by your suggestion of ANY amount? I am trying to imagine when I might declare such, and I can not. Such an offer would imply that I can match any amount proffered, and how could I know that? Even if I had an unlimited draw, as you seem to, I would not think to offer ANY amount, unless I was overcome with emotion.

Why the animosity? Hostility?

Do you work at Pimco?

You are SURE you can locate counterparties to the trade in literally any amount I want? Wow!

You have some impressive contacts. Any amount again? How would you locate these counterparties? Your rolodex? Your email list? Maybe just your Blackberry? Again, we obviously run in different circles.

Would your contacts be as fervent?

Maybe they would work at Pimco?

Just for giggles, if I was interested in your wager, what type of odds would you give me?

Cap - Do you work for Pimco?

 

[no_vaseline_IHB]

 

[CapitalismWorks_IHB]

Is this an indication of interest? If so I will meet you tomorrow, and we can put $100K to work. Is that enough, or do you high rollers only deal in 7 figures?

If so, I am SURE I can locate counterparties to the trade in literally any amount you want. I am dead serious.

Oh my. We can meet tomorrow? $100k? Is that enough? Dead Serious? At sundown? In the town square? Dead Serious?

You sound dead serious. Why do I get the feeling that in another time, you would be asking for a duel?

Do you work at Pimco? Or does a close relative work at Pimco?

I am interested, but not in your wager. I am interested in the passion and intensity of your statements.

You would LOVE, (your CAPS), to make a bet? And in ANY, (again your CAPS), amount?

According to your post, it was written at 9:14pm on Friday night and you were able to get $100k by the next day, Saturday. I am interested in how you would do that? Seriously. I am not able to access $100k on a Saturday with notice from late Friday night. Truly, I think the most I could access in that particular time period would be the limit on my ATM card. But, like you said, how many EA's are on the Forbes 400 list? Not many we might agree. How does one, either on or not on the Forbes 400 list, access such sums on a Friday night? I probably do not run in the same circles as you, but upon reflection, I can not think of anybody in my sphere who could do that. From late Friday night to Saturday day would imply cash on hand, would it not?

And I am still intrigued by your suggestion of ANY amount? I am trying to imagine when I might declare such, and I can not. Such an offer would imply that I can match any amount proffered, and how could I know that? Even if I had an unlimited draw, as you seem to, I would not think to offer ANY amount, unless I was overcome with emotion.

Why the animosity? Hostility?

Do you work at Pimco?

You are SURE you can locate counterparties to the trade in literally any amount I want? Wow!

You have some impressive contacts. Any amount again? How would you locate these counterparties? Your rolodex? Your email list? Maybe just your Blackberry? Again, we obviously run in different circles.

Would your contacts be as fervent?

Maybe they would work at Pimco?

Just for giggles, if I was interested in your wager, what type of odds would you give me?

Cap - Do you work for Pimco?

Since you pulled the whose D*** is bigger card by trying to big league me with the can you match my trades questions. I figured I would respond in like kind. I find your endless and baseless predictions of the collapse of the federal reserve, fractional reserve banking, company xyz, tiresome, and thought it appropriate to call bullshit on this absurd and extraordinarily confident prediction. Obviously I got your attention.

Yes, it does imply cash on hand. Since the average investor is currently 33% cash on average (according to UBS research), there is more cash than usual sitting idle (just not as much as there used to be).

We've been around the bend on a few topics in the past (I recall having some rather strong differences of opinion on macro economics). I guess I just don't like your style.

 

[awgee_IHB]

Is this an indication of interest? If so I will meet you tomorrow, and we can put $100K to work. Is that enough, or do you high rollers only deal in 7 figures?

If so, I am SURE I can locate counterparties to the trade in literally any amount you want. I am dead serious.

Oh my. We can meet tomorrow? $100k? Is that enough? Dead Serious? At sundown? In the town square? Dead Serious?

You sound dead serious. Why do I get the feeling that in another time, you would be asking for a duel?

Do you work at Pimco? Or does a close relative work at Pimco?

I am interested, but not in your wager. I am interested in the passion and intensity of your statements.

You would LOVE, (your CAPS), to make a bet? And in ANY, (again your CAPS), amount?

According to your post, it was written at 9:14pm on Friday night and you were able to get $100k by the next day, Saturday. I am interested in how you would do that? Seriously. I am not able to access $100k on a Saturday with notice from late Friday night. Truly, I think the most I could access in that particular time period would be the limit on my ATM card. But, like you said, how many EA's are on the Forbes 400 list? Not many we might agree. How does one, either on or not on the Forbes 400 list, access such sums on a Friday night? I probably do not run in the same circles as you, but upon reflection, I can not think of anybody in my sphere who could do that. From late Friday night to Saturday day would imply cash on hand, would it not?

And I am still intrigued by your suggestion of ANY amount? I am trying to imagine when I might declare such, and I can not. Such an offer would imply that I can match any amount proffered, and how could I know that? Even if I had an unlimited draw, as you seem to, I would not think to offer ANY amount, unless I was overcome with emotion.

Why the animosity? Hostility?

Do you work at Pimco?

You are SURE you can locate counterparties to the trade in literally any amount I want? Wow!

You have some impressive contacts. Any amount again? How would you locate these counterparties? Your rolodex? Your email list? Maybe just your Blackberry? Again, we obviously run in different circles.

Would your contacts be as fervent?

Maybe they would work at Pimco?

Just for giggles, if I was interested in your wager, what type of odds would you give me?

Cap - Do you work for Pimco?

Since you pulled the whose D*** is bigger card by trying to big league me with the can you match my trades questions. I figured I would respond in like kind. I find your endless and baseless predictions of the collapse of the federal reserve, fractional reserve banking, company xyz, tiresome, and thought it appropriate to call bullshit on this absurd and extraordinarily confident prediction. Obviously I got your attention.

Yes, it does imply cash on hand. Since the average investor is currently 33% cash on average (according to UBS research), there is more cash than usual sitting idle (just not as much as there used to be).

We've been around the bend on a few topics in the past (I recall having some rather strong differences of opinion on macro economics). I guess I just don't like your style.

I do not think I have ever predicted the collapse of the Federal Reserve, or fractional reserve banking. Actually, I think I can find the post where I predicted that the Federal Reserve will continue to exist, just the opposite of what you say I have predicted. I think I have said a free market is not possible with the existence of the Federal Reserve and fractional reserve banking. And the FR and frb are responsible for much of the present financial misery.

Do you think I have been wrong about the public companies and banks that I have predicted would collapse or go bankrupt?

And I did not ask if you can match my trades. I asked why you thought you could match my trades? I find it curious that you would assume that you could match my trades, as I would not assume that about anyone. I am curious as to what sort thinks he can bet ANY amount. I am also curious how one gets a hold of $100k on a Friday night, and you did make that clear to me. You imply to have $100k in cash.

Where did I write that I am extraordinarily confident that Pimco will collapse? I think I wrote that Pimco will collapse. Where do you get the extraordinarily confident? What did I write that gave you that impression? If you had asked, I would tell you that I think it more likely than not, and if you asked if I was extraordinarily confident, I would say no. I am curious as to why you feel it necessary to misrepresent my writing in order to get yourself upset.

Is it possible you are adding to what I have written based on your own emotions and not what I have written? It appears so.

Yes, I remember our different run ins. And I am speculating that what you like least of all is that you are more often wrong than right, and the current events are shining a light for you on just how wrong you have been.

So, do you work for Pimco?

And what about those odds?

 

[Gohabsgo_IHB]

What does all this have to do with "Newport Beach Prices Dropping"?

 

[Oscar_IHB]

What does all this have to do with "Newport Beach Prices Dropping"?

Nothing.

This is more basic than real estate.

 

[awgee_IHB]

What does all this have to do with "Newport Beach Prices Dropping"?

A good chunk of Newport Beach private party wealth is invested through Pimco.

 

[CapitalismWorks_IHB]

Is this an indication of interest? If so I will meet you tomorrow, and we can put $100K to work. Is that enough, or do you high rollers only deal in 7 figures?

If so, I am SURE I can locate counterparties to the trade in literally any amount you want. I am dead serious.

Oh my. We can meet tomorrow? $100k? Is that enough? Dead Serious? At sundown? In the town square? Dead Serious?

You sound dead serious. Why do I get the feeling that in another time, you would be asking for a duel?

Do you work at Pimco? Or does a close relative work at Pimco?

I am interested, but not in your wager. I am interested in the passion and intensity of your statements.

You would LOVE, (your CAPS), to make a bet? And in ANY, (again your CAPS), amount?

According to your post, it was written at 9:14pm on Friday night and you were able to get $100k by the next day, Saturday. I am interested in how you would do that? Seriously. I am not able to access $100k on a Saturday with notice from late Friday night. Truly, I think the most I could access in that particular time period would be the limit on my ATM card. But, like you said, how many EA's are on the Forbes 400 list? Not many we might agree. How does one, either on or not on the Forbes 400 list, access such sums on a Friday night? I probably do not run in the same circles as you, but upon reflection, I can not think of anybody in my sphere who could do that. From late Friday night to Saturday day would imply cash on hand, would it not?

And I am still intrigued by your suggestion of ANY amount? I am trying to imagine when I might declare such, and I can not. Such an offer would imply that I can match any amount proffered, and how could I know that? Even if I had an unlimited draw, as you seem to, I would not think to offer ANY amount, unless I was overcome with emotion.

Why the animosity? Hostility?

Do you work at Pimco?

You are SURE you can locate counterparties to the trade in literally any amount I want? Wow!

You have some impressive contacts. Any amount again? How would you locate these counterparties? Your rolodex? Your email list? Maybe just your Blackberry? Again, we obviously run in different circles.

Would your contacts be as fervent?

Maybe they would work at Pimco?

Just for giggles, if I was interested in your wager, what type of odds would you give me?

Cap - Do you work for Pimco?

Since you pulled the whose D*** is bigger card by trying to big league me with the can you match my trades questions. I figured I would respond in like kind. I find your endless and baseless predictions of the collapse of the federal reserve, fractional reserve banking, company xyz, tiresome, and thought it appropriate to call bullshit on this absurd and extraordinarily confident prediction. Obviously I got your attention.

Yes, it does imply cash on hand. Since the average investor is currently 33% cash on average (according to UBS research), there is more cash than usual sitting idle (just not as much as there used to be).

We've been around the bend on a few topics in the past (I recall having some rather strong differences of opinion on macro economics). I guess I just don't like your style.

I do not think I have ever predicted the collapse of the Federal Reserve, or fractional reserve banking. Actually, I think I can find the post where I predicted that the Federal Reserve will continue to exist, just the opposite of what you say I have predicted. I think I have said a free market is not possible with the existence of the Federal Reserve and fractional reserve banking. And the FR and frb are responsible for much of the present financial misery.

Do you think I have been wrong about the public companies and banks that I have predicted would collapse or go bankrupt?

And I did not ask if you can match my trades. I asked why you thought you could match my trades? I find it curious that you would assume that you could match my trades, as I would not assume that about anyone. I am curious as to what sort thinks he can bet ANY amount. I am also curious how one gets a hold of $100k on a Friday night, and you did make that clear to me. You imply to have $100k in cash.

Where did I write that I am extraordinarily confident that Pimco will collapse? I think I wrote that Pimco will collapse. Where do you get the extraordinarily confident? What did I write that gave you that impression? If you had asked, I would tell you that I think it more likely than not, and if you asked if I was extraordinarily confident, I would say no. I am curious as to why you feel it necessary to misrepresent my writing in order to get yourself upset.

Is it possible you are adding to what I have written based on your own emotions and not what I have written? It appears so.

Yes, I remember our different run ins. And I am speculating that what you like least of all is that you are more often wrong than right, and the current events are shining a light for you on just how wrong you have been.

So, do you work for Pimco?

And what about those odds?

Here's a recap:

1. A - PIMCO "will" collapse in 1.5 to 2 years. With the phrase "It will" repeated. That is not "it might", or "there is a chance". To me that means extraordinarily confident.

2. CW - Care to put some money on that?

3. A - Huh?

4. CW - I just wanted to clarify how overconfident and uninformed that statement appears by involving money.

5. A - You can't match my trades!

6. CW - Uh, yes I can (thanks to that Rolodex you mentioned). And if you are truly seeking this type of exposure, you've got it.

7. A - Oh yeah?

8. CW - Yeah

9. And so forth.

As for being more wrong than right, I can only respond with, "Methinks thou doth protest too much".

Disclosure: I went 50% cash in January 2008, with the rest in a mix of international and domestic equities (ouch). I guess I was half right last year. So to answer your question, I am not troubled by being more wrong than right (though there is plenty of room for improvement). That probably also clears up why I have so much cash on hand.